re IT’S NOT too likely a child will enter university at the age of four. But this young age is the best time for a_child’s parents to stat planning and saving for his or her post- secondary education, In fact, the sooner you begin planning, the more funds you will have to ease the financial burden of your child’s university or college education, Now, more than ever, with the increasing number of unemployed young adults, a post-secondary education has become a necessity. Whether it is a university degree or college diploma, a_ post-secondary education is valuable to your child’s future. There are several ways to plan and save for a child’s education. The decision as to which is right for you will depend on your particular needs, and available income. The following are six dif- ferent alternatives to saving for a child’s education. SAVINGS ACCOUNT Money deposited into a savings account at any chartered bank, credit union or trust company. Interest is earned at the prevailing market rate and deposited into the account. The inter- est on money invested in a savings account is taxable income. A disadvantage of this method is that it is often difficult for people to refrain from tapping the savings. BEARER COUPONS Also known as stripped bonds, this investment does not receive regular interest; the purchaser receives a - lump sum at a future date. There is no payment plan available to purchase the coupons, therefore, the ini- tial outlay is substantial. FAMILY TRUSTS" This is a popular tool in saving for a child’s future. A family trust is set up by My LYASE TEL ee «Sparkling dishes with ‘out Fnsin| + MEW teapte filleation syst ¥ «NEW hard tood waste se spe a koergy Saver feature x "See the new KD21 Series. Truly the best we have ever offered! ' NOW WAREHOUSE PRICED! 1) CONFIDENCE ADVERTISED E'LL REFUN E. * HOME FURNISHINGS Warehouse/Showroom OPEN TO THE PUBLIC (2 biks. behind the Avalon) at 1075 Roosevelt Cres.. N. Van. 9-9 Fri. 12-4 Sun. 22 - Wednesday, December 4, 1985 ~ North Shore News Save now for children’s education naming a child as beneficiary. Money is depos- ited into the trust and the child is taxed on the interest income earned. The tax ad- vantage of this method is that a student named in the trust is usually in a lower tax bracket than the person len- ding moncy to the trust. Professional help is recom- mended when setting up a family trust. INVESTMENT PLANS Offered by brokerage houses as a way to save money for a child’s educa- tion. The funds are managed Business Briefcase returns next week by professional investment analysts to provide optimum return. The tax advantage is similar to that of the family trust. The initial investment and payment plans can be quite high. MUTUAL FUNDS Ancther type of mutual fund administered by the in- vestor. The investor chooses “all stocks and bonds for the fund portfolio. The initial investment is very high and one must have a good knowledge of investments. Tax advantages occur because interest is tax-free. like those on the right. YORKSHIRE'S MONTHLY INTEREST G.1LC's REALTY PACK A WALLOP Ws always thought that Yorkshire Trust offers investors 50 years ofage and older, the best monthly interest rate in town on 3, 4, &5 year term G.I.C's. Arecent survey of 15 major banks and trust companies just proved us right. And with a Yorkshire Trust G.I.C., your monthly interest is deposited automatically into your “Opportunity 50" account. No waiting. No mail delays. So, if you're 50 or older, buy a monthly interest G.L.C. from Yorkshire and cruise through retirement. Do it before December 11, 1985, and you could cruise the Panama Canal, too. CONSTRUCTION oa Capilano Mall is going ahead on schedule. These men are pouring concrete into froms to make pillars oe Le Saasaed NEWS photo Stuart Davis You could win a breathtaking Panama Canal cruise for two with Royal Viking Line or one of 50 pocketsize FM/AM travelling stereo systems from SONY. Simply buy any Yorkshire Trust Guaranteed Invest- ment Certificate before December 11, 1985. You're - entitied to one entry for every $1,000 purchased. For contest details, rules and entry forms, visit your local branen of Yorkshire Trust.We're the financial institution people over 50 can trust to look after their best interest. Vancouver: 1100 Melville, Vancouver, and at 5 other Lower Mainland branches. DRAW DATE: DECEMBER 19, 1985. No purchase necessary ~ not valid for RRSP's. Member C.D.LC.